Eric Drysdale has left Raith Rovers after 19 years with the club.
His departure was confirmed in a club statement on Tuesday which stated that his role as chief executive officer had been made redundant following last season’s relegation.
Eric had previously served the club as secretary, and director, and was closely involved with the Reclaim the Rovers efforts in 2005, acting as liaison among the sellers, buyers and investors.
Club chairman Alan Young told the Press: “I’d like to record my thanks to Eric for all the work he’s done for the club over many years – and for being a trusted friend.
“It’s also right to thank him for recognising where the club is at the moment, and for being prepared to accept an outcome which is detrimental to him personally, but is for the overall benefit of the club.”
The chairman confirmed that the decision was a financial one and not based on last season’s performance.
“After being relegated our income is dramatically reduced for season 2017-18 compared to what it was before,” he said.
“On that side of things, we can’t really afford to have a full-time chief executive officer.”
The chairman confirmed that Drysdale will also resign from the club’s board of directors.